ECB leaves interest rates unchanged against brighter European economic backdrop

ECB leaves rates unchanged amid brighter backdrop

BERLIN — The European Central Bank has left its benchmark interest rate unchanged at 1 percent for the 15th consecutive month.

The ECB governing council’s decision Thursday to leave the refinancing rate for the 16-nation eurozone at a record low was in line with expectations.

Although the bank faces the most upbeat European economic backdrop in a long time, it isn’t expected to raise the cost of borrowing for a while yet.

Eyes will be on what tone ECB President Jean-Claude Trichet strikes at the post-decision news conference — the first in months not overshadowed by immediate worries over Europe’s debt crisis.

The Bank of England also left its interest rate unchanged Thursday at 0.5 percent.